Money hungry Nautilus weighs funding options as project challenges mount

Marine mining pioneer Nautilus Minerals is in active discussions with a range of potential financiers and shareholders to secure the funding required to start mining the Solwara 1 project, offshore Papua New Guinea (PNG), the company said on Thursday. The company has thus far been unsuccessful to secure tens of millions of dollars required to keep the project and associated production equipment and support vessel on track to start production in the Bismarck Sea during the first quarter of 2019.